11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
There was light trading over the weekend on Butt Branded Steers (BBS) and Branded Bulls (BB). BBS prices decreased today to similar levels to the beginning of last week. There was interest for BB by a Chinese customer over the weekend, but there has been a significant decrease in the volume and frequency of buying BB over the past two weeks.
The Jacobsen slaughter forecast for this week is 640,000 head, and if realized, will be 153,900 head more than the same week last year when it was 486,100.
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